- Earlier deal to sell RBS unit to Capital Bank fell through
- Expobank closed deal to buy Russian assets of RBS this year
Royal Bank of Scotland Group Plc agreed to sell its Kazakhstan unit to Igor Kim’s Expobank LLC after an earlier deal with Capital Bank fell through.
The RBS unit is a small corporate bank with assets of about $300 million, Kim said in London Wednesday. He declined to comment on the price of the transaction.
“We’ve submitted the documents to the regulator, the central bank of Kazakhstan, and the deal will close when we receive approval,” Kim said.
RBS is retreating from international markets to focus on consumer lending in the U.K. and Ireland as Chief Executive Officer Ross McEwan seeks to restore profitability at Britain’s biggest government-owned lender. Expobank closed a deal to buy RBS’s Russian assets earlier this year, Kim said.